Players In The Wires And Cables Industry

India’s wires and cables market is worth about ₹1 lakh crore, based on FY2026 industry estimates, and organised companies are taking a larger share of the market. 

• Major listed players include Polycab India, KEI Industries, RR Kabel, Havells India, Finolex Cables, and Apar Industries.
• Polycab reported 30–31% share of the organised market in FY2025-26.
• KEI’s wires and cables turnover reached about ₹11,220.57 crore in FY2025-26.
• RR Kabel reported wires and cables revenue of about ₹8,763.7 crore in FY2025-26.
• Demand comes from housing, power networks, infrastructure, renewable energy, factories, telecom, and data centres.
• Copper and aluminium prices can affect costs.
• Industry growth does not guarantee that every cable stock will rise.

Last reviewed: September 2026

The companies differ in scale and where they earn their money.

The securities quoted are for example purposes only and not a recommendation.

Do not treat all these companies as identical cable businesses.

For example, Havells also sells products such as fans, switches, appliances, and lighting, while RR Kabel gets a much larger share of its business directly from wires and cables.

Polycab, KEI, and RR Kabel are among the companies with large reported wires and cables businesses.

Polycab reported FY2025-26 wires and cables revenue of about ₹25,178.9 crore and said it held around 30–31% of the organised market. 

KEI Industries reported:

• FY2025-26 total turnover: ₹11,747.77 crore
• Wires and cables turnover: ₹11,220.57 crore
• FY2024-25 wires and cables turnover: ₹9,176.96 crore

That means wires and cables contributed most of KEI’s revenue. 

RR Kabel reported FY2025-26 wires and cables revenue of about ₹8,763.7 crore, up 31% year on year. The segment contributed roughly 90% of company revenue. 

These numbers show business scale. They do not tell you which stock is cheaper or likely to give a higher return.

Demand is coming from several parts of the economy at the same time.

Important areas include:

• Power generation and transmission
• Renewable-energy projects
• Housing and commercial construction
• Data centres
• Railways and metros
• Factories
• Telecom infrastructure
• Smart meters
• Electric-vehicle infrastructure

Organised wires and cables companies generated around ₹1 lakh crore of revenue in FY26.

For FY27, industry revenue is expected to grow about 28–30%.

However, this does not mean physical cable sales will grow 28–30%.

A large part of the revenue growth is expected to come from higher selling prices because copper and aluminium costs have risen.

Volume growth is expected to be closer to 10%.

That difference matters to an investor.

A company can report strong revenue growth simply because prices increased. You still need to check whether it actually sold more cable and earned more profit.

Copper and aluminium are major raw materials for wires and cables.

When these metals become more expensive, cable companies usually try to raise selling prices.

Suppose Ramesh runs an electrical shop in Nashik.

A cable company sells products worth ₹100 crore and spends ₹70 crore on materials.

Now copper prices rise sharply.

Its material cost increases to ₹85 crore.

If the company can raise its selling prices quickly enough, it may protect its profit.

If it cannot, its margin can fall.

For an investor, the useful action is to check three numbers together:

1. Revenue growth
2. Volume growth
3. Profit margin

If revenue rises 30% but volume rises only 10%, part of the growth may simply come from higher prices.

If margins also fall, the business may not be benefiting as much as the revenue number suggests.

Start with the business mix, then check whether growth is producing real profit.

1. Check wires and cables revenue: Find out how much of total revenue comes from the sector.
2. Check volume growth: Separate actual sales growth from price increases.
3. Check margins: See whether higher copper and aluminium costs are reducing profitability.
4. Check profit growth: Revenue growth is less useful if profit is not keeping pace.
5. Check debt: Large factory expansions can require substantial capital.
6. Check cash flow: Profit should eventually turn into cash.
7. Check capacity: New factories help only if demand is strong enough to use them.
8. Check valuation: A good company can still be a poor investment if you pay too much.

For example, suppose a company’s revenue grows 30%, but profit grows only 5%.

That tells you to investigate costs and margins before treating the revenue growth as a strong result.

India’s wires and cables sector is benefiting from power, housing, renewable energy, data centres, and infrastructure spending. But Polycab, KEI, RR Kabel, Havells, Finolex Cables, and Apar are not identical businesses.

Compare how much each company earns from wires and cables, how fast volumes are growing, whether margins are holding up, how much debt it carries, and what valuation you are paying.

Industry growth is useful. What matters for your money is whether the individual company converts that growth into profit and cash flow.